Following his virtual chit-chat on trade and climate with US President Joe Biden, Canadian Prime Minister (PM) Justin Trudeau struck statements suggesting a fresh start to the US-Canada trade relations.
After saying, “It’s great to see you,” the Canadian leader added Canada is “really excited” to be working with the US again.
In a response to the cordial message from Canada’s Trudeau, US President Biden started his speech by saying “I look forward to seeing you in person in the future." US President Biden also backed Canada in an effort to release two citizens from China.
Earlier in the day, Bank of Canada (BOC) Governor Tiff Macklem tried to strike vaccine optimism but couldn't derail the Fed's Chariman Jerome Powell's efforts to trigger the US dollar's corrective pullback, which in turn weighed on the USD/CAD.
Read: BoC's Macklem: Canadians expected have widespread COVID-19 immunity by end of year
Market implications...
Following the news, USD/CAD extends corrective pulback from 1.2579 to currently around 1.2595 during the initial Wednesday morning in Asia.
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